Saturday, October 15, 2005

114 Jasmine Court

Have you ever had someone tell you it's better to own the smallest house in a great neighborhood than the biggest?

This would be the problem with 114 Jasmine Court. On the surface it appears to be a solid home. 3300 sq/ft, 5 bedrooms, 2 full baths and 2 half baths. Built in 1992, located on a small lot in a cul-de-sac in a popular Carrboro neighborhood (Quarterpath Trace). List price of $349,950.

This all sounds reasonable, but in comparison to the rest of the neighborhood, this home is much bigger and much more expensive. I have to wonder, will this appraise for almost $350,000? If this was in a different neighborhood I would say "Sure-not a problem" The real questions is what is an appraiser going to say when they compare this house to other houses in Quarterpath Trace?